LONDON, 1 March 2023 - Chaser, the global accounts receivables platform and credit control service provider launched payer ratings. This new feature uses sophisticated machine learning to provide businesses with instant insights into their customers' payment behaviour, helping them to optimise their collections process, reduce non-payment risks, and improve their overall financial management.
Late payments are becoming a bigger and bigger problem for businesses today. In 2021, 58% of SMEs reported that they are typically paid late (Barclays). More recent research in 2022 found that 87% of SMEs are usually paid late (The 2022 late payments report). This suggests late payments are growing and becoming increasingly common over time. In addition, a rise in interest rates and cost of living is making it harder for businesses to cover...
